HTSC(SH:601688) HWABAO SECURITIES·2025-08-05 12:20Group 1 - The A-share equity market has shown strong performance, breaking through key levels, with the Shanghai Composite Index approaching 3600 points before facing resistance and adjusting to around 3550 points [2][4] - The stock-based enhancement strategy remains relatively strong despite adjustments in various equity fund strategy indices, with returns of -0.858% for the stock-based enhancement strategy and -1.951% for the evergreen low-volatility strategy [2][6] - The evergreen low-volatility strategy has demonstrated strong stability since its inception, effectively reducing portfolio volatility during market fluctuations, and is recommended for long-term allocation [5][14] Group 2 - The overseas equity allocation strategy has faced a decline of -1.307%, but the long-term outlook remains positive due to the resilience of the U.S. economy and technological advancements [7][20] - The cash-enhanced fund strategy has outperformed its benchmark, achieving a return of 0.027%, indicating effective cash management for investors [6][17] - The report emphasizes the importance of a diversified investment approach, particularly in the context of global asset allocation through QDII funds, to enhance returns [24][28]